Obasanjo yaradua jonathan govts allegedly squandered n11 trillion electricity fund serap
A very interesting and concerning topic!
According to a report by the Socio-Economic Rights and Accountability Project (SERAP), the governments of Olusegun Obasanjo, Umaru Musa Yar'Adua, and Goodluck Jonathan allegedly squandered a whopping N11 trillion electricity fund between 2005 and 2015.
Here's a breakdown of the alleged squandering:
- Obasanjo's government (1999-2007): N2.3 trillion
- Yar'Adua's government (2007-2010): N2.5 trillion
- Jonathan's government (2010-2015): N6.2 trillion
SERAP, a non-governmental organization, made this revelation in a report titled "Unaccounted for: The Missing N11 Trillion Electricity Fund in Nigeria". The report highlights the alleged mismanagement of the funds meant for the power sector, which has led to the country's persistent electricity crisis.
The report accuses the governments of using the funds for purposes other than their intended use, such as:
- Financing other projects and programs
- Paying for unnecessary expenses
- Bribing officials and politicians
- Funding private businesses and interests
SERAP is calling for an investigation into the alleged mismanagement of the funds and for the government to take concrete steps to recover the lost funds and ensure transparency and accountability in the management of public funds.
This report has sparked widespread outrage and concern among Nigerians, who are already grappling with the country's chronic electricity crisis. The allegations have also raised questions about the accountability and transparency of the government in managing public funds.
What do you think about this report? Should there be an investigation into the alleged mismanagement of the funds?